autoMedia Auto News Blog : Restoration

Cash for Clunkers Promises Stimulus

admin — Thu, 05 Feb 2009 01:41:00 GMT

While the industry is reeling from the disastrous January sales results, there are measures in federal government that carry promise for jump starting the economic engine. The "Cash for Clunkers" program introduced in Senate would reimburse drivers with a credit of $2,500 to $4,500 for turning in a gas-guzzler and replacing it with a newer, more fuel-efficient vehicle.

The bill targets vehicles that get 18 mpg, or less. To qualify, the vehicle must be in drivable condition and have been registered for at least the past 120 days.

Eligible drivers would receive a reimbursement voucher for the purchase of a new or used vehicle with a fuel economy rating that exceeds the CAFE target for that class of vehicle by at least 25 percent. The bill also requires that the voucher be used towards the purchase of a vehicle that has an MSRP of less than $45,000, is model year 2004 or later, and meets or exceeds federal emissions standards. Vouchers could also be redeemed for transit fares for participating local public transportation agencies. (See our "Top 10 used car values.")

The bill specifies that during the first year of the program, vouchers would be issued for the following amounts:

For traded-in vehicles that are model year 2002 and later, drivers would receive a voucher for:

The purchase of a new vehicle: $4,500
The purchase of a used vehicle: $3,000
Transit fare credit: $3,000

For traded-in vehicles that are model year 1999 – 2001, drivers would receive a voucher for:

The purchase of a new vehicle: $3,000
The purchase of a used vehicle: $2,000
Transit fare credit: $2,000

For traded-in vehicles that are model year 1998 and earlier, drivers would receive a voucher for:

The purchase of a new vehicle: $2,000
The purchase of a used vehicle: $1,500
Transit fare credit: $1,500

“This legislation would give consumers an incentive to turn over their old, inefficient vehicles, saving 80,000 barrels of motor fuel every day,” Senator Susan Collins (R-Maine) said. “Taking these cars and trucks off our roads and highways would help reduce our dependence on foreign oil, decrease greenhouse gas emissions, and stimulate the economy. In addition, it would help boost demand for manufacturers of newer, efficient models and bring in new business for car dealers who are struggling in the current economy.”

There are multiple benefits to such a measure, though there are also some concerns.

The Specialty Equipment Market Association (SEMA) has come out against this measure, calling it a "boondoogle." Among their concerns, SEMA points out that the program will reduce the number of vehicles available on the used market for low-income individuals and drive up the cost of the remaining vehicles and repair parts. Likewise, it risks the destruction of cars that could be parted out or rebuilt by the collector car and enthusiast communities.

A key point to underscore: Participation in this program is voluntary. But, for those drivers with an older, thirsty vehicle, this may make moving to a newer, thriftier model feasible.

Inspired to restore or modify your car? Scan the hundreds of restoration and performance articles here at autoMedia.com.

Classic car postage stamps coming this fall

admin — Sat, 26 Apr 2008 02:09:00 GMT

The U.S. Postal Service will celebrate America automotive classics when it rolls out the 50s Fins and Chrome First-Class stamps on October 3rd. These commemorative stamps join the America on the Move series, featuring a ’57 Chrysler 300C, ’57 Lincoln Premiere, ’57 Pontiac Safari, ’57 Studebaker Golden Hawk, and a ’59 Cadillac Eldorado.

The Postal Service previewed the stamps Friday before thousands of car enthusiasts attending the Spring Carlisle Collector Car & Swap Meet in Carlisle, Pennsylvania. Likewise, the first-day-of-issue ceremony takes place at the Fall Carlisle Collector Car & Swap Meet where at least two of the cars—the Chrysler 300C and the Pontiac Safari—are expected to be displayed during the ceremony.

This provides a rare opportunity to lick one of these classic cars and share your car enthusiasm with friends, family, and bill collectors across the nation. A welcomed tribute, these classic car stamps may dull the pain of the rate increase on May 12th to 42 cent for First Class. (Reminder: Buy your forever stamps now.)

How to: Valve Cover Gasket Replacement

admin — Thu, 10 Jan 2008 04:14:00 GMT

An engine that's burning oil spews obvious signs and signals. Clouds of smoke at startup or when getting on and off the throttle visually show where that quart of oil every 500 miles is going. If the dipstick is reading low and there's no sign of oil smoke, suspect an oil leak. While the source of oil leaks can be hard to locate, a common and relatively easy to repair source of oil leaks is from where the valve cover meets the cylinder head. If oil is going missing and the area around and under the valve cover is soaked then it could be time to replace the valve cover gasket.

Read the complete article on "Valve Cover Gasket Replacement."